ECB’s Mario Draghi: It’s Too Soon to Reduce Stimulus

Top officials have sent out mixed messages on future policy

FRANKFURT—Top European Central Bank officials clashed over how quickly to wind down the bank’s massive monetary stimulus, underlining the challenge in communicating a policy shift as the eurozone economy heats up.

The disagreements within the world’s second-most-powerful central bank—underlined by minutes of its March policy meeting, published on Thursday—come as economic data raise questions about whether the ECB will hit its...